The growing need among organizations to improve their security framework is fostering the growth of the threat intelligence market. As organizations are rapidly embracing cloud platforms, IoT, and other networking technologies, they are becoming increasingly exposed to various cybersecurity breaches. This is encouraging them to adopt threat intelligence platforms to strengthen their detection, protection, and response capabilities against the rapidly evolving cybercrime landscape.

The increasing number of cyber vulnerabilities is also driving the growth of the threat Intelligence market. The rapid technological advancement has given rise to various forms of cybersecurity vulnerabilities such as phishing, zero-day attack, ransomware, and insider attacks. Due to this, there will be an increase in the number of security vulnerabilities, raising concerns among organizations to update their security infrastructure and to keep up with the changing threat scenario. The use of threat intelligence solutions among enterprises is to gain evidence-based insights regarding the existing or emerging threats to make informed decisions.

Threat Intelligence Market, By Component

The UTM component segment is estimated to grow at a CAGR of over 17% over the projected time period. The enterprises are adopting various trends such as Bring Your Own Device (BYOD), Choose Your Own Device (CYOS), and virtualization. With the incorporation of these trends, the enterprises need to prepare for the emerging internal and external security vulnerabilities in their networks. UTM safeguards the network against a wide range of internal & external threats.

The SIEM threat intelligence market is estimated to account for 30% of the revenue in 2018. The increasing need to speed up the threat detection process is driving the use of SIEM solutions. The technology uses event discovery and correlation mechanisms to speed up the network event monitoring process by combining the error logs & alerts into a unified solution. This enables real-time threat monitoring across the entire network.

Threat Intelligence Market, By Format Type

The internet-based solution is expected to grow at a CAGR of over 14% in the threat intelligence market over the projected time period. This growth is credited to the increasing proliferation of cloud technology. Modern cyber-attacks such as WannaCry and NotPetya pandemic use disruptive and innovative security technology to circumvent the passive defense mechanism. To combat such advanced security threats, real-time defense mechanisms are required to forecast attack patterns. The cloud technology uses a collaborative approach to predict future attack locations by analyzing event streams of data. The rising need for real-time security solutions is helping the growth of the internet-based security market.

The file-based solution market held more than 50% of the overall stake in the threat Intelligence market in 2018. The technological advancements in the connectivity infrastructure is a key factor driving market growth. The emergence of next-generation technologies such as 5G and 4G has enabled companies to download large files, thereby promoting the use of the file-based solution market.

Threat Intelligence Market, By Deployment Model

The on-premise market accounts for over 75% of the total stake in the threat Intelligence market in 2018. On-premise deployment solutions are widely used among large enterprises with high investments in their security infrastructure. It allows the companies to customize their security framework as per their requirements with minimal vendor involvement. The high cost associated with on-premise solutions has restricted its adoption among small- and medium-sized companies with budgetary constraints.

The cloud threat intelligence market is expected to grow at a CAGR of over 20% over the projected time period. The cloud-based solutions have experienced a very high adoption rate among SMEs due to its inexpensive nature. It saves substantial capital expenses through the reduction in spending on equipment, infrastructure, and software. It also enables companies to scale their operations without incurring any additional capital expenditure.

Threat Intelligence Market, By Application

The IT & telecom industry accounted for over 20% of the threat intelligence market revenue in 2018. This is credited to the rising number of cyber-attacks on IT & telecom providers. Telecom organizations attract sophisticated and complex cyber-attacks as they store sensitive customer information and provide critical unified communication services to organizations. With the large section of their business operating online, the robust network security infrastructure has become an occupational necessity for the telecom industry. This is encouraging IT & telecom players to invest in threat intelligence solutions.

The BFSI application segment in threat intelligence market is estimated to grow at a CAGR of over 16% over the forecast timeline. The widespread digitalization of internet & online banking has a significant impact on the banking industry. Prior to the internet, financial establishments could easily secure the customers’ credentials; however, it was tough to reach their customers. Currently, the ease-of-use has become a key competitive factor determining the success of financial organizations. This has encouraged companies to provide various online channels to improve their customer journeys. However, this has left financial establishments vulnerable to various cybersecurity attacks. The financial players are investing in advanced threat intelligence infrastructure to bolster their defenses against the latest cybercrime technologies.

Threat Intelligence Market, By Region

North America dominates the threat intelligence market landscape with a 40% share of the total market in 2018. The rise in the number of connected devices and the government support along with the increasing use of remote monitoring & tracking devices are encouraging companies to adopt advanced security solutions. The presence of several large threat intelligence vendors such as IBM, Symantec, and Palo Alto Networks and the widespread awareness regarding the security solutions will help in market growth.

Europe threat intelligence market will grow at a CAGR of 14% over the projected timeline. This is attributed to the introduction of stringent compliance regulations mandating the companies to incorporate advanced security solutions into their network infrastructure. The early adoption of various next-generation technologies such as IoT and cloud computing across various businesses sectors has further added to market growth.

Competitive Market Share

The threat intelligence industry comprises various large players such as Symantec, McAfee, Kaspersky, FireEye, IBM, Cisco, Accenture, Check Point Technologies, Flashpoint, and Trend Micro. The large organizations are strategically acquiring various upcoming start-ups to expand their product line. For instance, in June 2016, Cisco acquired ThreatGRID, a provider of dynamic malware and threat intelligence technology. This acquisition will allow Cisco to offer public and private cloud-based solutions. The start-ups, on the other hand, are offering a subscription-based model to enter various industry verticals to increase their market share.

Digitalization has revolutionized every industry but at the same time, it has also introduced risks in the form of cyber-vulnerabilities and threats such as zero-day attacks and advanced persistent threats. The penetration of smartphones and the rising number of connected devices have made the threat landscape more complex, as the threat actors are growing at a faster rate making cyber-attacks more unpredictable. These attacks have remained a pervasive threat to the country’s national and economic prosperity and continue to be a lucrative option for cybercriminals owing to their ability to generate profits with minimal risks of identification. In the last five years, threat intelligence has become one of the important aspects of the cybersecurity strategy. It enables organizations to analyze the internal as well as external threats to develop effective and robust defense strategies. The intelligence solutions collect data about potential threats, analyze them, and create feeds and reports that facilitate organizations in implementing proactive business strategies.